Entropy Technologies LP Purchases Shares of 35,895 Synchrony Financial (NYSE:SYF)

Key Points

• Entropy Technologies LP acquired a new position in Synchrony Financial by purchasing 35,895 shares worth approximately $1.9 million during the first quarter.
• Insider transactions included Jonathan S. Mothner selling 40,639 shares, resulting in a 21.7% decrease in his position, and Brian J. Sr. Wenzel selling 8,514 shares, lowering his ownership by 11.04%.
• Synchrony Financial reported $2.50 earnings per share for the recent quarter, exceeding analyst estimates of $1.72, although revenue fell short of expectations at $3.65 billion.

Entropy Technologies LP acquired a new position in shares of Synchrony Financial (NYSE:SYF - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,895 shares of the financial services provider's stock, valued at approximately $1,900,000.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Synchrony Financial by 30.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,136 shares of the financial services provider's stock worth $3,895,000 after acquiring an additional 17,061 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Synchrony Financial during the first quarter worth approximately $11,506,000. BTC Capital Management Inc. boosted its holdings in shares of Synchrony Financial by 25.9% during the first quarter. BTC Capital Management Inc. now owns 65,835 shares of the financial services provider's stock worth $3,485,000 after acquiring an additional 13,526 shares during the period. Merit Financial Group LLC boosted its holdings in shares of Synchrony Financial by 70.2% during the first quarter. Merit Financial Group LLC now owns 10,657 shares of the financial services provider's stock worth $564,000 after acquiring an additional 4,397 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Synchrony Financial by 2.5% during the first quarter. Envestnet Asset Management Inc. now owns 236,967 shares of the financial services provider's stock worth $12,545,000 after acquiring an additional 5,765 shares during the period. Institutional investors own 96.48% of the company's stock.

Wall Street Analysts Forecast Growth

SYF has been the subject of a number of research analyst reports. Barclays reduced their price objective on Synchrony Financial from $81.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. BTIG Research upgraded Synchrony Financial from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a report on Monday, July 14th. Truist Financial boosted their price target on Synchrony Financial from $68.00 to $76.00 and gave the company a "hold" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded Synchrony Financial from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Rothschild & Co Redburn started coverage on Synchrony Financial in a research note on Friday, August 1st. They issued a "neutral" rating and a $72.00 price target for the company. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $74.05.

Insider Activity at Synchrony Financial

In other news, insider Darrell Owens sold 600 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $67.95, for a total transaction of $40,770.00. Following the completion of the transaction, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares of the company's stock, valued at $4,801,160. The trade was a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,133 shares of company stock valued at $3,817,635 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Synchrony Financial Price Performance

Shares of NYSE:SYF traded up $2.74 during trading on Tuesday, hitting $72.34. 4,515,324 shares of the company were exchanged, compared to its average volume of 3,690,912. The business's 50 day moving average is $67.07 and its 200-day moving average is $60.17. The company has a market capitalization of $26.91 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 0.71 and a beta of 1.49. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.02. Synchrony Financial has a 1-year low of $40.54 and a 1-year high of $73.76.

Synchrony Financial (NYSE:SYF - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.78. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.71 billion. Synchrony Financial had a net margin of 14.43% and a return on equity of 21.34%. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. Equities analysts forecast that Synchrony Financial will post 7.67 earnings per share for the current year.

Synchrony Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 5th. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. Synchrony Financial's dividend payout ratio is 14.56%.

Synchrony Financial Profile

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.